On the other hand, a report released by the National University of Real Estate and Urban Research Institute (IREUS) on Friday also showed that the overall resale price of non-land private houses in May fell slightly by 0.2% month-on-month, while small apartments rose slightly by 0.2%.
The volume of private home resale transactions also fell 17.5% from April, down from 1,173 to 968. Compared with the same period last year, trading volume fell 20.3%, and was below the average in May in the past five years. According to the latest market report released by the real estate website 99.co and Singapore Real Estate Joint Trading Network (SRX) on Friday (June 27), this may be due to the tendency of buyers' sentiment to be cautious, or affected by uncertainties such as tensions in the international situation and the re-imposition of tariffs on July 9.
SRX data shows that the overall price in May was roughly the same month-on-month, with prices in the core central district (CCR) and outside central district (OCR) areas 0.2% and 0.3% higher than in April, respectively, while other central districts (RCRs) fell 0.5%.
In May, the transactions accounted for the highest proportion outside the central district, accounting for 49.4%, while other central districts and core central districts accounted for 33.2% and 17.4% respectively. The proportion of property resale (sub-sale) was 6.7%, a slight decrease from April. The median capital gains for reselling private homes in May were RMB 365,000, a decrease of RMB 35,000 from the previous month. The highest resale price is a unit in Wing On Life Garden, about 9 million yuan.
The local private home resale market cooled down in May, and the private home resale price remained roughly flat, slowing down by 1.8% from the previous month.